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Intel to buy McAfee in $7.7 billion deal

Updated Dec 19th, 2018 6:46PM EST

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Today, Intel announced that it would purchase antivirus maker McAfee for $7.68 billion in cash. The deal will see McAfee shareholders paid out at $48 per share, a 60% premium on the stocks current $30 price tag.  Intel CEO Paul Otellini had this to say: “In the past, energy-efficient performance and connectivity have defined computing requirements. Looking forward, security will join those as a third pillar of what people demand from all computing experiences.” Intel and McAfee were advised by Goldman Sachs and Morgan Stanley respectively.